A $134.7M wave of forced closures just ran through Ether's leveraged buyers. Over the last 30 minutes, the major venues closed $ETH long positions, bets on a higher price, because the margin behind them ran out.
The opposite side barely felt it. Short positions, bets on a fall, saw $3.3M liquidated in the same window.
The count comes from the raw liquidation streams of the major venues, and it puts the pressure of this burst squarely on traders who were long Ether with borrowed money.
The opposite side barely felt it. Short positions, bets on a fall, saw $3.3M liquidated in the same window.
The count comes from the raw liquidation streams of the major venues, and it puts the pressure of this burst squarely on traders who were long Ether with borrowed money.